The past couple of years has seen huge investments in technology as the global pandemic has driven businesses to transition towards digital channels and delivery methods to keep interacting with their customers.
According to Computer Weekly’s recent Digital leadership report, 2020 saw the biggest surge in technology spend ever recorded and a little let-up in 2021. And this 2022, digital transformation remains the focus. The report highlighted some key trends that digital leaders should be aware of as they can potentially transform the business further:
1. Companies that have become essentially ‘tech companies’ will reach 50%
As the adage goes, “we’re all technology companies now”. This means almost every technology-powered or enabled business can already be considered a “technology company”. And with the increasing pace among businesses across sectors digitizing their services to reach customers. Whether it’s small retailers developing e-commerce capabilities and channels, restaurants joining the big delivery platforms, or small businesses have their own apps, such shifts have set the direction for 2022 and beyond.
2. No one can afford to look away from cyber threats
Cyber security has always been a major concern but given the sheer pace of digital change through the pandemic, cybercriminals have taken advantage of this as well by exploiting vulnerabilities at a greater frequency. To combat such threats, digital leaders are improving their security through increased encryption and other digital security measures, as well as tapping dedicated online security personnel such as CISOs. While many SMEs would not be able to afford a full-time security officer, the emergence of fractional CISOs enables them to create a more robust security strategy that fits their business.
3. Gender diversity is set to turn a corner
The percentage of women in technology leadership roles has been low for many years, but the tide seemed to turn last year. In the last two years, hundreds of thousands of jobs created for women in the technology sector. And with the hybrid work model being implemented in a growing number of organizations, women, especially those with young families, finally, get to have the work flexibility they have yearned for so long. This increased diversity has also made technology teams more effective and has contributed to the bottom line of the organization positively.
4. Sustainability will be a higher priority than ever
While sustainability has long been an area of priority for many business leaders, it is a sentiment that is not shared by others in the organization, especially technology teams who tend to be isolated from matters related to the environment. However, as the focus zeroes in reducing carbon emissions and energy consumption, technology leaders face the unenviable task of addressing these issues head on.
Digital leaders and their boards have already made a step forward in their digital transition and about half of the organizations have laid out major plans for their digital transformation in the next two to three years. 2022 is going to be a busy year for digital leaders everywhere, knowing the role technology plays towards post-pandemic recovery and future growth.